# Schneider Electric S.E. (SU.PA)

Canonical: https://gigainvestors.com/s/SU.PA

Analysis as of: 2026-10-16T07:33:35.247Z. Financial observations: FY2001–FY2025.

Listing currency: EUR. Reporting currency: EUR.

## Verdict

A wonderful business at too high a price

Quality tests for Buy: pass (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: EUR 258.00 per share; close as of 2026-10-15.

Estimated value: low EUR 98.63 per share, central EUR 111.32 per share, high EUR 128.21 per share. Buy at or below the central value EUR 111.32 per share. Valuation as of 2026-10-16T07:33:35.247Z; scenarios are not confidence intervals.

Expected annual return: 5.9% at the stated quote. About 5.9% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; FR 10-year bond 4.8% + 4 points).

## Checklist

### understandable: pass

- 2 revenue declines in the last 10 years (informational)

- Financial history: 10 years

- Years with declining revenue: 2

- Years with a net loss: 0

- Operating margin variation: 0.09×

Chart: Operating margin; fiscal year observations.

- FY2016: 0.14×

- FY2017: 0.14×

- FY2018: 0.14×

- FY2019: 0.15×

- FY2020: 0.15×

- FY2021: 0.16×

- FY2022: 0.16×

- FY2023: 0.17×

- FY2024: 0.17×

- FY2025: 0.18×

### moat: pass

- ROIC, median of available years: 40.2%

- ROIC, second-lowest year: 36.9%

- Typical minus recent gross margin: -1.8 pp

- Typical gross margin (annual median): 39.2%

- Recent gross margin (lower of latest and 3-year median): 41.1%

- Years with nonpositive capital: 0

- Capital spending / revenue: 2.9%

- ROIC including acquisitions, ten-year median: 10.7%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2016: 32.3%

- FY2017: 36.9%

- FY2018: 38.5%

- FY2019: 41.6%

- FY2020: 52.9%

- FY2021: 43.4%

- FY2022: 51.9%

- FY2023: 41.7%

- FY2024: 36.9%

- FY2025: 38.7%

### economics: pass

- Owner earnings / net income, 5-yr: 1.11×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: EUR 21B

- Net income, five-year total: EUR 19B

- Return on incremental invested capital: >100%

- Working capital / revenue, annual change: -0.2 pp

- Working capital / revenue, change between three-year averages: -0.9 pp

- Working capital / revenue, final three-year average: 17.9%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2021: 1.17×

- FY2022: 1.11×

- FY2023: 1.02×

- FY2024: 1.14×

- FY2025: 1.14×

### management: pass

- Historical market-dollar context (not the management verdict): 2016 to 2025 (9 years)

- buybacks leaned toward cheaper years (informational)

- ROIC first 3 years vs last 3 years: 36.9% vs 38.7%

- Per-share earnings: 3.10 to 7.31 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 10-year annual growth: 0.1%

- Ordinary dilution, 5-year annual growth: 0.4%

- Market cap gain: EUR 97B

- Cumulative retained earnings: EUR 8.5B

- Diluted shares, 10-year annual growth: 0.1%

- Diluted shares, 5-year annual growth: 0.4%

- $1 test, starting fiscal year: FY2016

- $1 test, ending fiscal year: FY2025

- Per-share value growth: 11.3%

- Per-share value change: EUR 4.21

- Per-share value, starting three-year median: EUR 3.10

- Per-share value, ending three-year median: EUR 7.31

- Buybacks concentrated in cheaper years (correlation): 0.38

- Average buyback yield: 0.7%

- Buyback history: 10 years

- Debt-funded buybacks: No

- Acquisition spending: EUR 38B

- Cumulative net income, 10 years: EUR 30B

- ROIC, first three-year median: 36.9%

- ROIC, last three-year median: 38.7%

Chart: Earnings per share; fiscal year observations.

- FY2016: EUR 3.10

- FY2017: EUR 3.78

- FY2018: EUR 4.16

- FY2019: EUR 4.33

- FY2020: EUR 3.81

- FY2021: EUR 5.63

- FY2022: EUR 6.15

- FY2023: EUR 7.07

- FY2024: EUR 7.48

- FY2025: EUR 7.31

### accounting: pass

- Sloan accruals: -3.1%

- Receivables to sales index (DSRI): 1.03×

- Restructuring years, last five: 0

- Stock compensation / operating cash flow: 0.0%

- Earnings backed by cash: Yes

- Operating cash / earnings: 1.47×

- Accounting red flags: 0

- Goodwill and intangibles / equity: 1.28×

Chart: Sloan accruals; fiscal year observations.

- FY2016: -2.9%

- FY2017: -2.2%

- FY2018: -1.3%

- FY2019: -4.2%

- FY2020: -4.7%

- FY2021: -0.8%

- FY2022: -1.5%

- FY2023: -3.2%

- FY2024: -2.0%

- FY2025: -3.1%

## Holders

## Price story

Price needs cash profits to grow 11.9% a year for ten years · "Schneider Electric’s Double-Digit Growth Driven by Data Center Deals" (finance.yahoo.com, Jul 2025) · sales +5.2%

Story as of 2026-10-16T09:59:56.791Z; price observation 2026-10-15.

Price needs cash profits to grow 11.9% a year for ten years

- 2025-04-28: Schneider Electric cuts margin outlook on market volatility ([finance.yahoo.com](https://finance.yahoo.com/news/schneider-electric-cuts-margin-outlook-153844740.html))

- 2025-07-31: Schneider Electric confirms 2025 outlook as data centres drive growth ([finance.yahoo.com](https://finance.yahoo.com/news/schneider-electric-confirms-2025-outlook-054047060.html))

- 2025-10-30: Schneider Electric beats organic growth forecast as AI boom fuels data centre demand ([finance.yahoo.com](https://finance.yahoo.com/news/schneider-electric-beats-organic-growth-095046913.html))

- 2026-02-26: Schneider Electric Stock Jumps on Strong Earnings and AI Data Center Growth ([finance.yahoo.com](https://finance.yahoo.com/m/812c069b-8d6c-354a-8972-194b8ec31173/schneider-electric-stock.html))

- 2026-04-30: Schneider Electric tops revenue forecast as it rides AI data centre wave ([finance.yahoo.com](https://finance.yahoo.com/sectors/technology/articles/schneider-electric-tops-revenue-forecast-053124042.html))

- 2026-06-15: Schneider Electric Taps Foxconn And Torngat To Target AI Growth ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/schneider-electric-taps-foxconn-torngat-160938574.html))

### Sales · FY2024–2025

sales +5.2%; source https://filings.xbrl.org/969500A1YF1XUYYXS284/2025-12-31/ESEF/FR/0/969500A1YF1XUYYXS284-2025-12-31-fr/reports/969500A1YF1XUYYXS284-2025-12-31-fr.xhtml; observed 2026-04-07.

- FY2016: EUR 24B 

- FY2017: EUR 25B 

- FY2018: EUR 26B 

- FY2019: EUR 27B 

- FY2020: EUR 25B 

- FY2021: EUR 29B 

- FY2022: EUR 34B 

- FY2023: EUR 36B 

- FY2024: EUR 38B 

- FY2025: EUR 40B 

### Gross margin · FY2025

gross margin 41.1%; source https://filings.xbrl.org/969500A1YF1XUYYXS284/2025-12-31/ESEF/FR/0/969500A1YF1XUYYXS284-2025-12-31-fr/reports/969500A1YF1XUYYXS284-2025-12-31-fr.xhtml; observed 2026-04-07.

- FY2016: 38.6% 

- FY2017: 38.8% 

- FY2018: 39.3% 

- FY2019: 38.6% 

- FY2020: 39.2% 

- FY2021: 39.2% 

- FY2022: 39.2% 

- FY2023: 40.8% 

- FY2024: 41.7% 

- FY2025: 41.1% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in specialty industrial machinery; annual sales are EUR 40.2 billion.

- Source: https://filings.xbrl.org/969500A1YF1XUYYXS284/2025-12-31/ESEF/FR/0/969500A1YF1XUYYXS284-2025-12-31-fr/reports/969500A1YF1XUYYXS284-2025-12-31-fr.xhtml (filed 2026-04-07); FY2025: revenue 40152000000; grossProfit 16486000000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); SU.PA: Schneider Electric S.E. engages in the energy management and industrial automation businesses worldwide. The company offers inverters, mounting frames, solar panels, other solar equipment, wind farm microgrid, and others; building management systems; power metering systems for buildings; smart monitoring and regulation of electricity or heat in buildings, such as thermostats and controls for lighting systems; cooling systems; insulating products; UPS; transmission and distribution wiring devices for wiring electrical circuits; low voltage electrical products, equipment, and systems; medium voltage switchgears and control gears; demand response and load shifting equipment, systems, and services; communication, software and control equipment, products, systems, and services for energy; and variable speed drives. It also provides modernization and maintenance services for rail transport infrastructure, zero-emissions road transport, infrastructure required for operating urban transport, low-carbon port and airport infrastructure, and electrification and ports' operations; energy management equipment and projects; service plans related to building management and power metering systems in buildings; software and data-driven solutions for building design, planning, and construction; technical consultations, such as energy audits, simulations, and trainings; energy management services; energy performance contracts; leakage control technologies for water supply systems; real-time network modeling and optimization; leakage calculation, control, and reporting; electrical and electronic equipment; remote monitoring and predictive maintenance systems; lifecycle performance management software; product repairing, refurbishing, or remanufacturing services; spare parts; and software as a service. Schneider Electric S.E. was founded in 1836 and is headquartered in Rueil-Malmaison, France.

### Why customers stay

Margins ranged from 40.8% to 41.7% during 2023–25; it earns 40.2% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-07); FY2023: grossProfit / revenue = 40.8%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-07); FY2024: grossProfit / revenue = 41.7%.

- Source: https://filings.xbrl.org/969500A1YF1XUYYXS284/2025-12-31/ESEF/FR/0/969500A1YF1XUYYXS284-2025-12-31-fr/reports/969500A1YF1XUYYXS284-2025-12-31-fr.xhtml (filed 2026-04-07); FY2025: grossProfit / revenue = 41.1%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-07); 10-year return on capital observations [[2016,0.32316513878996267],[2017,0.36928437533324676],[2018,0.3850527737791366],[2019,0.4159181459740966],[2020,0.5287713787287807],[2021,0.43425776341508393],[2022,0.5188036206051353],[2023,0.41714603074052065],[2024,0.3685369068415536],[2025,0.3873440304171721]]; median 0.4016310881956343. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Can it raise prices

Kept about a 39% gross margin through 2022 cost inflation.

- Source: https://filings.xbrl.org/969500A1YF1XUYYXS284/2025-12-31/ESEF/FR/0/969500A1YF1XUYYXS284-2025-12-31-fr/reports/969500A1YF1XUYYXS284-2025-12-31-fr.xhtml (filed 2026-04-07); Gross margin observations: [[2021,0.3924926483307386],[2022,0.392000234082397],[2023,0.4080552615453178]]; range within 2 percentage points.

### Where the cash goes

Paid dividends in 10 of 10 years; bought back EUR 341 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-07); FY2016: growth capex 0; upkeep 476000000; owner earnings 2107000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-07); FY2017: growth capex 0; upkeep 434000000; owner earnings 2502000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-07); FY2018: growth capex 0; upkeep 486000000; owner earnings 2708000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-07); FY2019: growth capex 0; upkeep 844000000; owner earnings 2744000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-07); FY2020: growth capex 0; upkeep 817000000; owner earnings 2519000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-07); FY2021: growth capex 0; upkeep 876000000; owner earnings 3742000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-07); FY2022: growth capex 0; upkeep 1093000000; owner earnings 3866000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-07); FY2023: growth capex 0; upkeep 1365000000; owner earnings 4064000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-07); FY2024: growth capex 0; upkeep 950000000; owner earnings 4857000000. Growth capex / owner earnings = 0.

- Source: https://filings.xbrl.org/969500A1YF1XUYYXS284/2025-12-31/ESEF/FR/0/969500A1YF1XUYYXS284-2025-12-31-fr/reports/969500A1YF1XUYYXS284-2025-12-31-fr.xhtml (filed 2026-04-07); FY2025: growth capex 0; upkeep 1072000000; owner earnings 4743000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-07); Dividend observations: [[2016,1127000000],[2017,1133000000],[2018,1223000000],[2019,1296000000],[2020,1413000000],[2021,1447000000],[2022,1618000000],[2023,1767000000],[2024,1963000000],[2025,2191000000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://filings.xbrl.org/969500A1YF1XUYYXS284/2025-12-31/ESEF/FR/0/969500A1YF1XUYYXS284-2025-12-31-fr/reports/969500A1YF1XUYYXS284-2025-12-31-fr.xhtml (filed 2026-04-07); FY2025: cash repurchases 341000000 EUR.

### Are managers owners

Insiders own 3.5% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); SU.PA SharesStats.PercentInsiders = 3.4680000000000004 percentage points; cache date 2026-10-16.

### What the price says

The price assumes cash profits grow 11.9% yearly over ten years; actual growth was 9.6%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-07); Ten-year compound average after fade. Initial solved rate 0.1590764717229075. Price 258; FX 1; discount 0.1; same standard ten-year fade to terminal 0.03. FY2015 owner earnings/share 3.3176865019447686 → FY2025 8.326603700712756. Closing-price date 2026-10-15.

## Monthly share-price history (EUR per share)

- 2016-10: EUR 61.14 per share

- 2016-11: EUR 62.82 per share

- 2016-12: EUR 66.11 per share

- 2017-01: EUR 66.22 per share

- 2017-02: EUR 63.89 per share

- 2017-03: EUR 68.63 per share

- 2017-04: EUR 72.50 per share

- 2017-05: EUR 68.56 per share

- 2017-06: EUR 67.27 per share

- 2017-07: EUR 66.35 per share

- 2017-08: EUR 67.73 per share

- 2017-09: EUR 73.63 per share

- 2017-10: EUR 75.45 per share

- 2017-11: EUR 72.21 per share

- 2017-12: EUR 70.86 per share

- 2018-01: EUR 75.48 per share

- 2018-02: EUR 71.58 per share

- 2018-03: EUR 71.34 per share

- 2018-04: EUR 75.28 per share

- 2018-05: EUR 73.78 per share

- 2018-06: EUR 71.42 per share

- 2018-07: EUR 68.84 per share

- 2018-08: EUR 70.24 per share

- 2018-09: EUR 69.30 per share

- 2018-10: EUR 63.96 per share

- 2018-11: EUR 64.28 per share

- 2018-12: EUR 59.72 per share

- 2019-01: EUR 62.08 per share

- 2019-02: EUR 68.42 per share

- 2019-03: EUR 69.94 per share

- 2019-04: EUR 75.46 per share

- 2019-05: EUR 70.80 per share

- 2019-06: EUR 79.76 per share

- 2019-07: EUR 78.08 per share

- 2019-08: EUR 76.16 per share

- 2019-09: EUR 80.50 per share

- 2019-10: EUR 83.26 per share

- 2019-11: EUR 87.60 per share

- 2019-12: EUR 91.50 per share

- 2020-01: EUR 90.52 per share

- 2020-02: EUR 90.50 per share

- 2020-03: EUR 78.58 per share

- 2020-04: EUR 83.46 per share

- 2020-05: EUR 89.24 per share

- 2020-06: EUR 98.88 per share

- 2020-07: EUR 98.24 per share

- 2020-08: EUR 103.75 per share

- 2020-09: EUR 106.05 per share

- 2020-10: EUR 104.20 per share

- 2020-11: EUR 116.65 per share

- 2020-12: EUR 118.30 per share

- 2021-01: EUR 120.95 per share

- 2021-02: EUR 122.85 per share

- 2021-03: EUR 130.25 per share

- 2021-04: EUR 133.02 per share

- 2021-05: EUR 129.40 per share

- 2021-06: EUR 132.68 per share

- 2021-07: EUR 141.30 per share

- 2021-08: EUR 151.30 per share

- 2021-09: EUR 143.90 per share

- 2021-10: EUR 148.90 per share

- 2021-11: EUR 156.22 per share

- 2021-12: EUR 172.46 per share

- 2022-01: EUR 149.36 per share

- 2022-02: EUR 139.78 per share

- 2022-03: EUR 152.16 per share

- 2022-04: EUR 137.70 per share

- 2022-05: EUR 129.04 per share

- 2022-06: EUR 112.90 per share

- 2022-07: EUR 134.54 per share

- 2022-08: EUR 118.78 per share

- 2022-09: EUR 116.94 per share

- 2022-10: EUR 128.26 per share

- 2022-11: EUR 138.92 per share

- 2022-12: EUR 130.72 per share

- 2023-01: EUR 148.32 per share

- 2023-02: EUR 152.12 per share

- 2023-03: EUR 153.68 per share

- 2023-04: EUR 157.82 per share

- 2023-05: EUR 161.34 per share

- 2023-06: EUR 166.46 per share

- 2023-07: EUR 162.04 per share

- 2023-08: EUR 158.58 per share

- 2023-09: EUR 156.98 per share

- 2023-10: EUR 144.98 per share

- 2023-11: EUR 168.62 per share

- 2023-12: EUR 181.78 per share

- 2024-01: EUR 182.90 per share

- 2024-02: EUR 209.80 per share

- 2024-03: EUR 209.65 per share

- 2024-04: EUR 215.10 per share

- 2024-05: EUR 227.45 per share

- 2024-06: EUR 224.30 per share

- 2024-07: EUR 222.85 per share

- 2024-08: EUR 229.70 per share

- 2024-09: EUR 236.20 per share

- 2024-10: EUR 237.20 per share

- 2024-11: EUR 243.50 per share

- 2024-12: EUR 240.90 per share

- 2025-01: EUR 245.35 per share

- 2025-02: EUR 233.95 per share

- 2025-03: EUR 210.75 per share

- 2025-04: EUR 204.20 per share

- 2025-05: EUR 221.35 per share

- 2025-06: EUR 225.80 per share

- 2025-07: EUR 228.25 per share

- 2025-08: EUR 210.05 per share

- 2025-09: EUR 237.60 per share

- 2025-10: EUR 246.10 per share

- 2025-11: EUR 231.00 per share

- 2025-12: EUR 234.90 per share

- 2026-01: EUR 242.30 per share

- 2026-02: EUR 276.70 per share

- 2026-03: EUR 229.10 per share

- 2026-04: EUR 268.60 per share

- 2026-05: EUR 269.95 per share

- 2026-06: EUR 285.40 per share

- 2026-07: EUR 289.60 per share

- 2026-08: EUR 294.60 per share

- 2026-09: EUR 292.00 per share

- 2026-10: EUR 264.40 per share

## Annual estimated value (EUR per share)

- FY2016: low EUR 44.91 per share, central EUR 50.54 per share, high EUR 58.03 per share

- FY2017: low EUR 49.60 per share, central EUR 55.82 per share, high EUR 64.10 per share

- FY2018: low EUR 50.84 per share, central EUR 57.39 per share, high EUR 66.12 per share

- FY2019: low EUR 59.33 per share, central EUR 66.75 per share, high EUR 76.62 per share

- FY2020: low EUR 61.32 per share, central EUR 68.19 per share, high EUR 77.34 per share

- FY2021: low EUR 59.70 per share, central EUR 67.43 per share, high EUR 77.73 per share

- FY2022: low EUR 75.39 per share, central EUR 84.98 per share, high EUR 97.74 per share

- FY2023: low EUR 85.38 per share, central EUR 96.18 per share, high EUR 110.57 per share

- FY2024: low EUR 93.42 per share, central EUR 104.82 per share, high EUR 120.00 per share

- FY2025: low EUR 97.74 per share, central EUR 110.29 per share, high EUR 126.99 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original ESEF filing](https://filings.xbrl.org/969500A1YF1XUYYXS284/2025-12-31/ESEF/FR/0/969500A1YF1XUYYXS284-2025-12-31-fr/reports/969500A1YF1XUYYXS284-2025-12-31-fr.xhtml); period 2025-12-31, filed 2026-04-07.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.